Bank of America AMD

Bank of America Raises AMD Price Target to $450

Analyst: Vivek Arya 1 min read Reproduced verbatim
Rating
Buy
Target
$450
from $310 (+45%)
Outcome
Reached
on May 8, 2026
Bank of America and AMD logos

What the analyst said

BofA Securities analyst Vivek Arya raised the price target on AMD (NASDAQ: AMD) to $450.00 (from $310.00) while maintaining a Buy rating.

“Reiterate Buy, a top compute pick on AMD as we believe the company offers a unique combination of: 1) Broad portfolio of agentic CPU and AI GPU accelerators, well aligned with evolving AI market, 2) Low ~6% market share (~$500bn CY26 AI TAM) that could head towards double-digit (10%+) in a $1.5Tn CY30E market, 3) Additional “Gigawattscale” AI customer announcement potential (beyond OpenAI, Meta), 4) Scale (top 3 TSMC customer) and execution consistency, and 5) Still relatively low investor ownership (only 1 in 3 funds own at 0.37x weight relative to S&P index).

Following Q1 EPS call we raise CY26/27E pf-EPS by 9% each to $7.28/$11.80, with CY30 EPS power now $27+ (ahead of management’s $20+ target). Raise PO to $450 from $310, now on 38x CY27E PE (vs.

29x prior) given much greater CPU TAM/opportunity, but well supported by AMD’s 50%+ annual EPS growth potential and still well within 13x-58x historical range.”

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This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

AMD trades at $488. The 23 analysts who set a target in the last 3 months range from $510 to $800, with a median of $685. This $450 target is 34% below the median, the lowest on the Street.

Since the note AMD has moved +37% (from $355). 12-month window: day 181 of 365, closes on May 6, 2027.

Track record

This call✓ Target reached on May 8, 2026, 2 days after the note.

Firm track recordBank of America: 82% of its 49 targets at least a year old were reached within 12 months (#8 of 26 firms); on AMD, 7 of 7. Accuracy ranking →

Earnings reactionOne of 22 notes after AMD’s May 5 results: 22 raised · 0 cut · 0 kept. See every call →

Bank of America on AMD

Bank of America price targets on AMD

8 calls from July 15, 2025 to June 11, 2026. The target went from $175 to $560 (+220%). The rating stayed Buy.

Bank of America targetAMD share price
  1. June 11, 2026Target raised from $500 (+12%)Buy$560
  2. May 13, 2026Target raised from $450 (+11%)Buy$500
  3. May 6, 2026 This noteTarget raised from $280 (+61%)Buy$450
  4. February 4, 2026Target cut from $300 (−7%)Buy$280
  5. November 12, 2025Kept the $300 targetBuy$300
  6. October 17, 2025Target raised from $250 (+20%)Buy$300
  7. October 9, 2025Target raised from $175 (+43%)Buy$250
  8. July 15, 2025Earliest call shownBuy$175
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Other analysts on AMD

Morgan StanleyHold Raised price target +10%, kept rating Nov 2 $510from $465 SusquehannaBuy Raised price target +5%, kept rating Oct 28 $650from $620 Aletheia CapitalBuy Raised price target +14%, kept rating Oct 28 $800from $700 SusquehannaBuy Raised price target +13%, kept rating Oct 21 $620from $550 TD CowenBuy Kept rating and price target Oct 19 $675maintained
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.